POSCO (NYSE:PKX) Stock Passes Above 200 Day Moving Average – Here’s Why

POSCO (NYSE:PKX) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $52.47 and traded as high as $54.80. POSCO shares last traded at $54.6830, with a volume of 107,887 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PKX. Weiss Ratings cut shares of POSCO from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, December 10th. UBS Group raised shares of POSCO from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, POSCO currently has a consensus rating of “Hold”.

POSCO Stock Performance

The stock’s 50-day moving average price is $52.98 and its 200 day moving average price is $52.47. The company has a quick ratio of 1.38, a current ratio of 1.96 and a debt-to-equity ratio of 0.25. The company has a market cap of $16.60 billion, a P/E ratio of 73.90, a price-to-earnings-growth ratio of 0.39 and a beta of 1.52.

POSCO (NYSE:PKX) last posted its earnings results on Monday, October 27th. The basic materials company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The business had revenue of $12.29 billion for the quarter, compared to analyst estimates of $12.41 billion. POSCO had a net margin of 0.64% and a return on equity of 0.74%. As a group, research analysts expect that POSCO will post 3.74 EPS for the current fiscal year.

Hedge Funds Weigh In On POSCO

Large investors have recently made changes to their positions in the business. Northern Trust Corp increased its holdings in shares of POSCO by 5.0% during the 1st quarter. Northern Trust Corp now owns 450,873 shares of the basic materials company’s stock worth $21,430,000 after purchasing an additional 21,609 shares during the period. Ameritas Advisory Services LLC acquired a new stake in POSCO during the second quarter worth about $66,000. American Century Companies Inc. increased its stake in POSCO by 19.6% during the second quarter. American Century Companies Inc. now owns 481,595 shares of the basic materials company’s stock valued at $23,353,000 after acquiring an additional 78,835 shares during the period. Blue Trust Inc. raised its holdings in POSCO by 161.3% in the 2nd quarter. Blue Trust Inc. now owns 12,592 shares of the basic materials company’s stock valued at $611,000 after acquiring an additional 7,773 shares in the last quarter. Finally, Compound Planning Inc. bought a new stake in shares of POSCO in the 1st quarter worth approximately $321,000.

About POSCO

POSCO Holdings Inc, together with its subsidiaries, operates as an integrated steel producer in Korea and internationally. It operates through six segments: Steel, Trading, Construction, Logistics and Others, Green Materials and Energy, and Others. The company engages in the production, import, sale, and export of steel products, such as hot and cold rolled steel, stainless steel, plates, wire rods, and silicon steel sheets, as well as pig iron, billets, blooms, and slabs; trading of steel and raw materials, textiles, agricultural commodities, and other goods; natural resources development and power generation activities; and planning, designing, and construction of industrial plants, civil engineering projects, and commercial and residential buildings.